AB InBev earnings miss estimates in first results after Megabrew
London — Anheuser-Busch InBev reported a surprise drop in third-quarter profit and cut its revenue forecast as the Budweiser maker published results for the first time since completing the takeover of main competitor SABMiller. Adjusted earnings before interest, taxes, depreciation and amortisation (ebitda) fell 2%, the Belgian brewer said in a statement Friday. Analysts expected 4.5% growth. Revenue advanced 2.8% on an organic basis, trailing estimates. AB InBev said it no longer expected sales growth to beat inflation this year. "Given the weak results in Brazil, we now expect growth in line with inflation," the brewer said. Higher taxes, the outbreak of the Zika virus and a sliding economy in Brazil led AB InBev to abandon its forecast for any revenue growth in its largest South American market this year. Low oil prices are eroding consumption in emerging markets in Africa as well, just as the brewer increases its exposure to that continent through its $103bn acquisition of SABMi...
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